Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Memorandum accounts - Foreign dividend payment accounts (FDPA)

OC 30: Payment of further income tax for closing debit balance

You could also call this:

“This rule about extra tax payments no longer applies”

This section of the law has been removed. It is no longer in effect. The government decided to take it out of the Income Tax Act 2007 on 1 April 2017. This means you don’t need to worry about what it used to say because it doesn’t apply anymore.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1519044.

Topics:
Money and consumer rights > Taxes
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OC 29: FDP credits and imputation credits attached to dividends, or

“Former rules for tax credits on company dividends”

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OC 31: Payment of further income tax when company no longer New Zealand resident, or

“Companies no longer pay extra tax when leaving New Zealand”

Part O Memorandum accounts
Foreign dividend payment accounts (FDPA)

OC 30Payment of further income tax for closing debit balance (Repealed)

    Notes
    • Section OC 30: repealed, on , by section 216 of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).